Charles Schwab Investment Management Inc. Has $26.50 Million Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Charles Schwab Investment Management Inc. increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,337,162 shares of the company’s stock after purchasing an additional 55,138 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.88% of PENN Entertainment worth $26,503,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in PENN Entertainment in the fourth quarter worth about $596,000. Janus Henderson Group PLC raised its position in PENN Entertainment by 244.7% in the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after purchasing an additional 176,844 shares in the last quarter. Quantbot Technologies LP raised its position in PENN Entertainment by 84.7% in the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after purchasing an additional 95,423 shares in the last quarter. Verition Fund Management LLC raised its position in PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after purchasing an additional 356,029 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in PENN Entertainment by 8.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after purchasing an additional 46,209 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PENN. Mizuho raised their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Jefferies Financial Group raised their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.69.

PENN Entertainment Price Performance

PENN opened at $17.26 on Tuesday. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $23.08. The stock has a market capitalization of $2.64 billion, a P/E ratio of -4.86, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50 day simple moving average is $20.10 and its 200-day simple moving average is $19.69.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.